How policy management helps your company mitigate risk

An effective software-driven policy management system is key to your risk mitigation strategy.

Many organisations make the mistake of drafting and finalizing their policies in a once-off process before leaving them on a shelf to gather dust.

This means that your employees do not have continuous access to the policies they are meant to follow, and that these policies are not always up to date.

Both of these situations can result in major problems for your business, particularly in the ever-evolving modern workplace.

Fortunately, they can be avoided by implementing a comprehensive policy management system.

Policy Management as a business enabler

A strong policy management system not only allows for policies and procedures to be followed by stakeholders but also acts as a business enabler.

This ensures that management best practices are set out, legal requirements are clear and company objectives are achieved through aligning with strategy.

Policies and standard operating procedures guide the entire organization, setting the tone for how the business should operate.

Benefits of a policy management system

An effective software-driven policy management system is key to your risk mitigation strategy against non-compliance and lets you manage all of your policies and procedures in a single location.

It achieves this by automating the document management process, which is usually time-consuming, and makes it easy to approve and attest these policies quickly.

This increases the likelihood that you will update your policies on a regular basis, as it is much easier to implement changes through a single interface that automates all the time-consuming menial processes.

Regularly updating your policies also means you will not end up with company policies that do not align with national regulations – for example, when COVID-19 regulations change, your business policies need to change in alignment.

This is crucial, as your employees and your company always need to be on the same page – making it far easier for your staff to reference the company’s policies before making decisions and taking actions.

CURA Policy Management

CURA Policy Management is the perfect product to achieve this – designed to let you maintain compliance with all policies – both internally and externally.

This is driven by its intuitive and user-friendly interface, which makes it easy to access and manage all policies through a single platform.

It offers comprehensive review and approval functionality too, which allows authorised employees to modify policies or access them to inform their business-related decisions.

CURA Policy Management will provide a direct and substantial boost to your Governance, Risk, and Compliance (GRC) efforts, as it helps your organization to define, articulate, and communicate all expectations and boundaries by formulating accessible policies that are continually updated in accordance with changes the company may undergo.

You can also combine CURA Policy Management with other CURA solutions to build a complete GRC suite that will let you reach full maturity through an integrated approach.

If your policies are sitting in a binder gathering dust, contact CURA about its Policy Management product before it’s too late.

Click here to learn more about CURA Policy Management.